Drive.SG
Car rental booking site.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
$1.0m | Series A | ||
| Total Funding | 000k | ||
| USD | 2021 | 2022 | 2023 |
|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 |
| % growth | - | - | (43 %) |
| EBITDA | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 |
| EV | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 |
Source: Dealroom estimates
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Drive.SG operates as an online marketplace for car rentals in Singapore, positioning itself as a key aggregator in a fragmented market. The company was founded at the end of 2010 by Adrian Lee and Paul Tan. The founders conducted hands-on research by working short stints at local rental companies, where they observed inefficiencies like whiteboard-based inventory management and disparate rental policies. This direct experience informed the development of their platform.
The business functions as an online direct-sell platform, providing car rental companies, many of which are smaller 'mom-and-pop' operations, with the necessary IT infrastructure to compete with larger international firms. For these rental partners, Drive.SG offers back-end administrative, accounting, and e-commerce solutions to modernize their operations. The company's revenue is generated through commissions on bookings made through its platform. The platform serves both local drivers seeking cars for occasions like holidays or trips to Malaysia, as well as international visitors needing transport.
Drive.SG's core service is a centralized portal that allows consumers to search, compare, and book rental vehicles from a wide array of over 50 agencies. This provides users with transparency on pricing and availability in real-time. Key features include the ability to filter searches by price, location, and specific car models. The platform also clearly lists additional costs, such as fees for driving into Malaysia or for optional extras like GPS systems. To enhance accessibility, Drive.SG has also developed a mobile application for both iOS and Android, which includes a geo-location feature to help users find the nearest rental agency. The company secured S$200,000 in seed funding in early 2013, followed by a Series A round of approximately $790,000 in 2014 to fuel expansion into other Asian markets.
Keywords: car rental marketplace, online booking, vehicle aggregation, mobility platform, rental comparison, Singapore, automotive technology, fleet management solutions, travel tech, e-commerce platform